UV Filter Market is projected to be worth USD 17.90 billion by 2033 and is anticipated to surge at a CAGR of 5.8%.
UV filters absorb UV light before it reaches the subject, so filtering out UV radiation. UV filters are mostly used in sunscreens because they shield skin from sunburn and other UV-related damage. UV filters were used to protect hardware on glass discs that were fixed to camera lenses before to the development of digital cameras. The ozone layer's thinning and climate change are also expected to drive up demand for UV filters in the upcoming years.
Global UV Filter Market Driving Factors and Challenges
Drivers: Growing demand for sun care products and increased knowledge of UV filters' benefits for skin are also anticipated to fuel the market's long-term expansion. The increasing use of organic UV filters in a variety of personal care and cosmetics formulations is expected to drive further growth in the market for distributors of UV filters. Fears about skin cancer and other skin-related conditions are predicted to boost the worldwide UV filter market in the near future. UV filters provide defense against tanning, sunburns, and other skin disorders. UV filters help protect the skin from the harmful effects of UV radiation by reflecting or absorbing UV light.
Challenges: A wide range of regional and multinational businesses make up the competitive worldwide UV filter market. Due to global climate change and growing public awareness of serious skin problems, UV filters are frequently used. Well-known cosmetic distribution networks that facilitate the flow of goods to final consumers are included in the global UV filter market. Another major drawback of using dangerous inorganic UV filters is coral bleaching, which could limit market expansion to some degree as environmental conservation and sustainability become more and more important. For this reason, companies that produce UV filters ought to spend money on developing novel UV filters that are safe for people and the environment.
Impact of COVID-19 on Global UV Filter Market
The global UV filter industry has suffered as a result of the COVID-19 outbreak. The COVID-19 pandemic during lockdowns caused a sharp decline in demand for products related to skin care, color cosmetics, hair care, perfumes, and personal care, which negatively impacted the worldwide beauty industry. On the other hand, it is anticipated that the regulations will soon be lifted, which will benefit the beauty industry. As a result, growth in the UV filter market is anticipated worldwide.
UV Filter Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Advance NanoTek Limited, Ashland, BASF SE, Dow, Hallstar, Kobo Dynamic, L'Oréal Group, Novacap, DSM and others.
Global UV Filter Market Segmentation:
By Product Type: Based on the Product Type, Global UV Filter Market is segmented as; Organic, Inorganic.
By Application: Based on the Application, Global UV Filter Market is segmented as; Sunscreens, Oils, Others.
By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.